VK, roving reporter for The Automatic Earth, has been playing with the numbers from the January 7 employment report issued by the U.S. Bureau of Labor Statistics. It seems valuable to look at unemployment from this, a different, angle. Some of it may even surprise you.
The total non institutional civilian labor force (Americans 16 years and older who are not in a institution -criminal, mental, or other types of facilities- or an active military duty) is reported as 238.889 million. Of these, we see:
- Employed: 139.206 million people (58.3% of labor force)
- Unemployed: 14.485 million people (6.1% of labor force)
Obviously, that can’t be the total picture, we’re only at 64.4%. This is why:
- Part time employed for economic reasons: 8.931 million people. This concerns people who want a full-time job but can’t get one.
- Part time employed for non-economic reasons: 18.184 million people. Non-economic reasons include school or training, retirement or Social Security limits on earnings, but also childcare problems and family or personal obligations.
But the by far largest category “missing” from both the Employed and Unemployed statistics is the “Not In Labor Force”: 85.2 Million people.
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